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RBC Capital Tech Conference


    Tom Waechter Chief Executive Officer
        Waechter,      E ec ti e
    June 10, 2010
...
Safe Harbor Statement
        Certain statements in this presentation constitute forward-looking statements within the
   ...
JDSU Strategy


    Execute as a diversified technology
    company focused on optical and broadband
    innovation

     ...
Enabling Broadband & Optical Innovation
                                          Communications &
                       ...
Q3 FY10 Summary

               Revenue d
               R       decreased 3% quarter-over-quarter t $332 9 million, up 19...
Enabling Broadband & Optical Innovation

                                                 Communications Test & Measuremen...
JDSU Acquires NSD – 3 Lines of Business
    Service Assurance
     – Largest business line by revenue
     – Complements J...
JDSU vs. The Competition
    • JDSU is the only vendor with end to end solutions for LTE
    • Won award for Best LTE Test...
Enabling Broadband & Optical Innovation

                                           Communications & Commercial Optical Pr...
Enabling Broadband & Optical Innovation

                                                         Advanced Optical Technol...
JDSU Quarterly Operating Model

                                           Revenue (mil)                            Operat...
Fiscal Year 2010 Strategic Priorities

        Focus on profitable, market-based innovation

        Increase our global m...
JDSU Investment Thesis




           An Investment in Broadband and Optical Innovation



                               ...
Q&A




14   © 2008 JDSU. All rights reserved.   JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
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  1. 1. RBC Capital Tech Conference Tom Waechter Chief Executive Officer Waechter, E ec ti e June 10, 2010 1 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
  2. 2. Safe Harbor Statement Certain statements in this presentation constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1934. “Forward-looking” statements are all statements made by us, other than those dealing specifically with historical matters and any statements we make about the conduct of our business or finances up to this moment. All other statements made by us are forward-looking statements which include any information provided on future business operations and guidance regarding our future financial performance. Actual results may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to materially differ from those in the forward-looking statements are discussed in the Company’s Securities and Exchange Commission Filings, particularly the risk factors section of our most recent form 10-K. This presentation includes Non-GAAP financial measures where indicated. These non-GAAP financial measures co p e e the Co pa y s co so da ed financial s a e e s p ese ed in a c a easu es complement e Company’s consolidated a c a statements presented accordance with GAAP. However, these non-GAAP financial measures are not intended to supersede or replace the Company’s GAAP results. A detailed reconciliation of historical GAAP results to the historical non-GAAP results is provided in the “Non-GAAP Condensed Consolidated Statement of Operations” schedule to our news release announcing our most p g recent quarterly financial results. A discussion of the GAAP measures excluded from the forward-looking non-GAAP measures is provided in the “Business Outlook” paragraph of the news release. The news release is located in the Investor Relations section of our web site at j www.jdsu.com. . 2 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
  3. 3. JDSU Strategy Execute as a diversified technology company focused on optical and broadband innovation Enable customers’ innovation in broadband and optical markets Diversify our customer base and product portfolio Shape p p product p portfolio: p profitability followed by y y revenue growth Focus on best-in-class operating metrics 3 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
  4. 4. Enabling Broadband & Optical Innovation Communications & C i ti Communications C i ti Advanced Optical Ad d O ti l Commercial Optical Products Test & Measurement Technologies Business Segments Total Market Size $4.3B $2.8B $1.5B (Annual) (Annual)* Annual Growth 5-15% 6-12% 5-10% Rate* JDSU Market # #1-4 # #1-2 # #1-2 Position* P iti * Telecom, Datacom, Telecom/Cable Access, Currency, Defense Submarine, Long Haul, Metro, Core & Home Authentication, Metro, Access, Biotech, Networking, SAN Instrumentation Markets Microelectronics, Semiconductors and Materials Processing Alcatel-Lucent, ASML, Alcatel-Lucent, AT&T, British Astra-Zeneca, Peoples Bank Becton Dickinson, Ciena, Telecom, China Telecom, of China, HP, ITT, Lockheed Sample p Cisco, Ericsson, ESI,, , , ,, Comcast, Telmex, Verizon , , Martin, Pfizer, SICPA , , Customers Tellabs, Huawei, Nortel, NSN, Fujitsu 4 JDSU CONFIDENTIAL & PROPRIETARY INFORMATION * Sources: Central Banks, Frost & Sullivan, Infonetics Research, Ovum-RHK, PIRA Research, Prime Data, US Chamber of Commerce, and internal analysis. © 2008 JDSU. All rights reserved.
  5. 5. Q3 FY10 Summary Revenue d R decreased 3% quarter-over-quarter t $332 9 million, up 19% year-over-year d t t to $332.9 illi Gross margins of 44.1%, third consecutive quarter at or above 44% Operating margins of 6 6% highest non-December quarter operating margin 6.6%, Net income of $23.2m compared to $26.6m a quarter ago EPS of $0.10, above Wall Street expectations $ , p Free cash flow positive $7.9 million, 14th consecutive quarter of positive cash flow from operations $420 50% $400 45% $380 40% $360 35% $340 30% $320 25% $300 20% $280 $260 15% $240 10% $220 5% $200 0% Q306 Q406 Q107 Q207 Q307 Q407 Q108 Q208 Q308 Q408 Q109 Q209 Q309 Q409 Q110 Q210 Q310 Revenue ($M) Gross Margin (%) 5 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
  6. 6. Enabling Broadband & Optical Innovation Communications Test & Measurement Product Groups Lab & Production, Field Service, Service Assurance T&M Highlights Fiscal Q3 revenue down 17.6% Q/Q, up 14.1% Y/Y Book to bill >1 Typical seasonality and material supply constraints Gross margin of 54.9% due to product mix and ASP trends 54 9% Completed acquisition of NSD business from Agilent Innovation Market Position Market leader in served addressable markets #1 market position in optical transport and storage network test for the lab and production market #1 field test positions in the Ethernet, fiber field, xDSL and cable networking markets. • Gross Margins: 57%-61% Operating Model • Operating Margins: 20%-23%at ≥ $175 million of revenue 6 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
  7. 7. JDSU Acquires NSD – 3 Lines of Business Service Assurance – Largest business line by revenue – Complements JDSU solutions by adding carrier-class OSS with probe-based probe based signaling test including LTE testing capability test, – Market-leading carrier solutions for network deployment, management and operation Network Protocol Test – Largest installed customer base for network protocol analyzers – Used for both lab and field testing by NEMs and wireless service providers – Supports protocols such as WiMAX, Bluetooth, 3G and emerging LTE technologies Wireless Drive Test Wi l Di T t – Drive test network optimization platform – Vehicle-mounted mobile test solution – Measures performance and troubleshoots network coverage in p g support of all wireless technologies including LTE and WiMAX 7 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
  8. 8. JDSU vs. The Competition • JDSU is the only vendor with end to end solutions for LTE • Won award for Best LTE Test Product at 2010 LTE World Summit Access Points Transport Signaling Drive Test Active  Portables System(s) Protocol  System(s) Service  Analyzers Testing JDSU NSD In process JDSU JDSU NSD NSD CommTest CommTest Other Leading LTE  Players No solution Some advantage Leadership position 8 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
  9. 9. Enabling Broadband & Optical Innovation Communications & Commercial Optical Products Innovation Optical Innovation focus on functional integration Communications Q3 revenue grew by 15% Q/Q; book to bill >1 highlights Gross margins improved to 26%; hit target 25-30% 1 qtr early ROADM revenue grew 22% Q/Q to over 25% of OC revenue t f 9 of 11 product lines grew; record bookings in at least 2 yrs Lasers Nearly 12% sequential revenue growth highlights Gross margins improved to 41.3%, also hitting target Pipeline for new products expected to increase SAM by more than 3X Operating Model 10%-15% 10% 15% at ≥ $150 million of revenue 9 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
  10. 10. Enabling Broadband & Optical Innovation Advanced Optical Technologies Solutions Security solutions: brand p y protection, anti counterfeiting g for currency, transaction card authentication Custom optics for aerospace and defense Custom color solutions Innovation Highlights Hi hli ht Record revenue, gross profit, operating profit and R d fit ti fit d bookings in Q3 Strength in currency including new US $100 bill Began shipping filter for gesture recognition g pp g g g Trends Customers seeking more complex integrated design features to combat counterfeiting Increased custom optic applications Operating Model Operating Margins: 34%-37% at current revenue levels 10 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
  11. 11. JDSU Quarterly Operating Model Revenue (mil) Operating Margin CommTest $175 20‐23% NSD $40 20‐23% CCOP  CCOP $150 10 15% 10‐15% (Optical Components/Lasers) AOT $50 34‐37% TOTAL $415‐425 11% 11 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
  12. 12. Fiscal Year 2010 Strategic Priorities Focus on profitable, market-based innovation Increase our global market presence Focus on lean Maximize the utilization of our assets 12 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
  13. 13. JDSU Investment Thesis An Investment in Broadband and Optical Innovation An Evolving Business Model Clearly Defined Near-Term and Longer-Term Targets 13 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
  14. 14. Q&A 14 © 2008 JDSU. All rights reserved. JDSU CONFIDENTIAL & PROPRIETARY INFORMATION
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